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In the latest Apple Crime Blotter, "iPhone Man" goes to court, a convicted killer had an iPhone in jail, and Apple items are taken in a burglary of a governor candidate's headquarters.
The latest in an occasional AppleInsider feature, looking at the world of Apple-related crime:
Apple Store robbed at gunpoint in Bethesda
An armed suspect robbed the Apple Store in Bethesda, Md., on October 23, Fox 5 DC reported. The suspect, police said, entered the store, drew a handgun, and took an undisclosed amount of merchandise.
A suspect is described as a man in his early 20s, who was wearing a "red Nike hoodie and surgical mask."
"iPhone Man" appears in court
At the end of September, the Hennepin County Attorney's Office in Minnesota charged 12 people with racketeering in connection with a cell phone theft ring in downtown Minneapolis — and one of those accused was known as "The iPhone Man."
In late October, four of the defendants, including "iPhone Man," appeared in court, KSTP writes. Prosecutors argued that "iPhone Man" shouldn't be eligible for a public defender, since he posted $250,000 cash bail last month.
Per the report, the ring targeted 40 victims, netting $159,797 in cash and devices worth about $25,267.
Two arrested in Apple Store thefts in Illinois Attorney General's sting
The state attorney general in Illinois announced on October 22 that enforcement sweeps by the Attorney General's Organized Retail Crimes Task Force had resulted in several arrests. These included the arrests of two women who authorities said had carried out multiple Apple Store thefts in that state.
Two women caught in such a sweep at Woodfield Mall in Schaumburg were "in possession of over $3,000 worth of products allegedly stolen from numerous Apple Stores."
Packages with four iPhones stolen from Pennsylvania home
Packages containing four iPhones, valued at nearly $4,000, were stolen from a home in Penn Forest Township, Pa. According to Fox 56, the phones were two Apple iPhone 14 Pro Max models and two of the iPhone 13 Pro.
Pennsylvania State Police are investigating the crime and say the thief impersonated the homeowner.
Apple mouse, keyboard taken in burglary of Arizona candidate
A man was arrested on October 27 and charged with breaking into the campaign headquarters of Arizona Democratic gubernatorial candidate Katie Hobbs. CNN reports an Apple computer mouse and Apple keyboard were among the stolen items.
The man was charged with one count of third-degree burglary.
iPhone, iPads, food truck stolen
A Tennessee entrepreneur who built his business from a food truck into a brick-and-mortar restaurant arrived only to find that iPads, an iPhone, cash, and the food truck itself had been stolen. According to Fox 17 in Nashville, the food truck is worth $50,000, and it also contained a week of inventory:
Jailed "gangland killer" caught with iPhone in cell
A notorious murderer in Scotland has been caught with an iPhone in his jail cell, marking at least the third time he's been found with an illicit phone. The Daily Record reports Paul Lyons had the iPhone hidden in a box in his cell, which was discovered after a routine inspection.
Lyons is doing a 12-year stretch for culpable homicide, for his part in a "road-rage killing." A six-month sentence was added alongside his existing sentence.
District chief's iPhone stolen amid theft-plagued Rural Olympics in India
At the final match of the Rural Olympics in Jaipur, India, the district chief's iPhone was one of many that pickpockets stole, per FGN News. The story also said that "half a dozen pockets were cut" at the sporting event.


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NEWS & INFORMATION
Hello, new bottling line!
We've been waiting for almost a year, but our new bottling line is finally up and running! And to say we're excited would be an understatement.
"This bottling line is a huge upgrade," says head winemaker Craig Hosbach. "I think the precision of this machinery is incredible – the way it's all designed, the timing – incredible!"
Suzanne Hunt, co-owner of Hunt Country, is pretty excited too. "We made this significant investment to ensure that the beautiful wines our team is producing are bottled with the absolute highest quality equipment," she says.
The bottling line components are from two different companies in France and Germany. From the time we ordered the line, it took about nine months for it to be assembled, cross the Atlantic, move through an east coast port of entry and finally land on our doorstep in several gigantic crates.
"Then we had to prep the room and bring people in to help to do set up, and that added another month," Craig says. "So from beginning to end it was about 10 months."
The first wine we bottled with the line is our 2021 Dry Rosé, which is a delightful blend of Blaufränkisch and Cabernet Franc – an absolutely beautiful wine.
"We wanted to get it in the bottle early to capture the essence of it: the aromatics, the flavors and the brightness," Craig says. "This wine is meant to be enjoyed young and fresh."
So grab a bottle and help us celebrate the newest member of our winemaking team: the new bottling line!
Hunt Country Partners with D.C. Film Festival
We are thrilled to begin 2022 by announcing that we are partnering with the Environmental Film Festival in the Nation's Capital (DCEFF) for a virtual conversation about the effects of climate change on wine and how sustainable practices and diversity in grapes can help ensure the future of fine wine. DCEFF is the world’s premier showcase of environmentally themed films since 1993 and hosts the world's largest environmental film festival every March.
"Climate change is impacting every part of our lives, including what we eat and drink," says Christopher Head, DCEFF Executive Director. "In partnering with Hunt Country Vineyards, DCEFF is hoping not only to bring attention to these effects, but also to learn from and talk about ways that we can mitigate these changes to protect our planet."
The conversation will feature Suzanne Hunt, co-owner of Hunt Country Vineyards, and will take place on Wednesday, Feb. 2, from 8:00 to 9:00 pm EST. With each "Wine and Conversation" ticket purchase, participants will receive a trio of wines from our Uncharted Terroir line of wines.
"When I lived in D.C., I loved going to this festival," Suzanne says. "Film is such a powerful medium for informing and inspiring people about the most critical issues of our time. We're thrilled to be teaming up with the world's premiere environmental film festival for this conversation."
Join us for "Wine and Conversation" with DCEFF.
An open letter calling for climate action
The 22 members of International Wineries for Climate Action – including Hunt Country Vineyards – have signed on to an open letter released this week calling on the wine trade to take climate action.
The climate emergency is by far the most severe threat that we face as grape growers and wine producers. As world leaders convene this month at COP26 in Scotland to reaffirm their support for the commitments made in 2015 at the Paris Agreement to limit global warming, we recognize now as a critical moment in time for the wine community to voice our support for the continuation of these important efforts and take action within our own companies.
We believe that the wine trade can be a beacon of hope and action in the global response to the climate crisis – and serve as a model for other sectors.
We also greatly appreciate your support as wine lovers for everything we're doing right here at Hunt Country to be part of the solution to the climate crisis. Thank you!
Read the IWCA blog post and the full letter.
Hunt Country makes the 2021 list of Wine Industry Leaders
This week Wine Business Monthly released its 2021 list of Wine Industry Leaders – and Suzanne, Art and Joyce made the list!
Every year, Wine Business Monthly sets out to honor those who shape the way the wine industry operates or how people drink wine. With this leaders list, Wine Business Monthly is showcasing men and women who are making a difference. It's full of movers and shakers, and there are more than a few who are dissatisfied with the status quo. Some of the influential people on this list are known to virtually anyone who follows the wine industry, while others are influential yet fly "under the radar". All of them are leaders in the North American wine business.
Hunt Country is included on the list "for leading the Finger Lakes on a variety of environmental issues, most recently in promoting sustainable measures for viticulture, enology and business management projects."
It's a genuine honor to be part of this year's group of outstanding leaders!
Hunt Country joins International Wineries for Climate Action
We are thrilled to announce that Hunt Country Vineyards is joining International Wineries for Climate Action (IWCA), a working group taking collective action to decarbonize the global wine industry. We are the first winery in New York state to become an applicant member of IWCA, and one of just 12 new applicant members from around the globe who have committed to addressing the climate crisis by taking immediate steps to reduce their carbon emissions.
Miguel A. Torres, President of Familia Torres, says that when he and Katie Jackson of Jackson Family Wines co-founded IWCA in February 2019, they wanted to act and move beyond simply talking about the urgency of climate change.
“Our goal was to gather the most environmentally committed wineries, and we hoped our initiative would work as a boost for other wineries to accelerate or start their carbon emissions reduction programs," Torres says. "It is therefore great to see that now with 12 new applicant members joining, we are more than 20 wineries worldwide. We are convinced that this will have a multiplier effect."
The Hunt family and team are proud to be part of this international group of rockstar wineries committed to tackling the most pressing issue of our lifetimes.
"We have been working for many years to address climate change in all aspects of our farm and business," says Suzanne Hunt, co-owner of Hunt Country Vineyards and an international climate policy and sustainability expert. "We're thrilled to team up with other wineries around the world who are tackling the same challenges. As a small family-run business we're able to be nimble, but as part of a larger industry effort we'll be able to develop critical mass in creating demand for products and services like lower-carbon glass bottles, packaging, and shipping options. We're excited to be able to share our own expertise and learn from the expertise of others."
The Hunt family has been farming for seven generations, crafting wine since 1981, and is one of the founding families of the Finger Lakes wine region in New York. We continue to be focused on managing our vineyards and business as part of a complete and healthy ecosystem. We produce the majority of our electricity with 348 solar panels, heat and cool with an award-winning geothermal system, provide EV charging stations to customers, focus on soil carbon sequestration and sustainable vineyard practices, and have certified some sections of the farm and vineyards organic. In 2020, we received the NY Wine & Grape Foundation's Sustainability Award.
Click here to read the full press release on the new IWCA applicant members.
"Thanks, Dad. We love you."
The winery is celebrating our 40th anniversary this year thanks to the hard work and dedication of Art and Joyce Hunt (and scores of team members) over the decades. My parents hadn't planned to go into the wine industry – their plan was to take over the family farm and grow grapes. But the grape market crash in the early 1970s forced a change of plans. My dad's MacGyver-like skills all came in very handy (in a different lifetime he would have been an inventor/builder). During the early years in the 1980s, he moved whole buildings and retrofitted old barns, poured concrete, installed plumbing and electricity, modified and jerry-rigged all kinds of old machinery, and pioneered cool climate field grafting with a friend at Cornell – all of this in addition to learning the essential skills of winemaking. And, to his total surprise, the wines he made won awards!
I think the people who know my dad well would say that he is a deep thinker, enormously generous, truly kind, eminently competent, and humble to a fault. In great contrast to our culture which is trending ever more towards one of immediate gratification, he thinks and acts for the long-term. Thirty years ago, he decided to plant hundreds of black walnut trees in a hay field; the wood from that walnut grove might help pay his grandchildren’s college costs in another decade.
As a volunteer firefighter, he’s been on call every day, 24-hours a day, for 45 years. He can thread a 20-ton firetruck though a needle on a steep incline in an ice storm on the edge of a gully while a house is burning. Over and over, he drops whatever he’s doing to run and help – fires, floods, car accidents. He is immensely generous with his time, his expertise, and his stories. (O lord, the stories he has!)
My dad drilled the idea that "we compete together" into our heads from the time we were born. His focus on taking care of others and working together helped lay the foundation for the collaborative, vibrant wine industry in New York State that is going gangbusters today – more than 500 wineries strong and still growing!
Thanks, Dad. We love you.
Happy father’s day.
~ Suzanne Hunt
Daughter, Co-owner and Director of Sustainability
Hunt Country featured in Good Fruit Grower story about sustainable viticulture
The New York viticulture industry’s attempts to create a statewide sustainability certification program moved in fits and starts over the past decade or two, but the latest effort appears to be gaining momentum.
Suzanne Hunt, co-owner of Hunt Country Vineyards and an environmental consultant, has been advocating for the creation of a statewide sustainability program for years. It would benefit Finger Lakes wineries such as hers and reassure consumers who want to know which wines are sustainably made, she said.
“There’s a lot of committed growers ready to sign up once this is launched,” she said.
Suzanne Hunt featured in Forbes story about sustainable wines
Forbes just featured co-owner Suzanne Hunt and some of her thoughts on how wine producers should be prepared to explain the idea of sustainability to customers.
“It is complicated. We have to be ready to explain. There is no one size fits all, we have to collaborate to make sure we minimize confusion, make it clear, but there is no way to avoid the complexity.”
Our Uncharted Terroir Cayuga got a nice little review
Our 2018 Uncharted Terroir Cayuga White received a wonderful little review from Esther Mobley, the wine critic for the San Francisco Chronicle. It was part of a bigger piece she wrote about hybrid wines that she really enjoys – and why hybrid grapes are becoming more and more important.
"What makes the hybrid conversation urgent is climate change. As temperatures warm and weather patterns become more erratic, vinifera may not be able to thrive forever in all of the places where it's currently grown. Some scientific predictions, in fact, suggest if current trends persist, half of the world's wine regions will become inhospitable to vinifera. Sure, the European grapes — all our Cabernet Sauvignons and Pinot Noirs and Syrahs — are working great in California now. But they may not always...
"Most of the efforts with hybrid winemaking in the U.S., however, are happening outside of California, in areas where extreme weather makes it difficult to grow vinifera successfully... Under its new Uncharted Terroir label, Hunt Country Vineyards in upstate New York has made a nice wine from Cayuga, rich and round with some creaminess from barrel fermentation and lees stirring."
Read the full story when you have a few minutes.
Being as sustainable as possible makes perfect sense
Terroir is often thought of as a snooty wine term. But it's actually a really beautiful concept – especially as it's described by Suzanne Hunt in celebration of Earth Day.
At its best, winemaking is about capturing the unique essence of your place and all of your practices – the terroir – in every bottle of wine. So the fact that we put so much emphasis on stewardship of the land and being as sustainable as possible here at Hunt Country makes perfect sense.
Because our stewardship – all of our decisions about how to take care of the terroir – is critical to the essence of our wine.
To make great wine, you have to have clean air, clean water and healthy soil.
Watch Caring for the Land, a short video that tells our story of sustainability and stewardship.

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- Companies are accelerating efforts to create "innovation cultures" internally to, among other things, find out ways to use advanced technology, including artificial intelligence, to overhaul operations like recruitment.
- Comcast is no different. The telecommunications giant relies on three different programs to figure out ways to improve customer service, Chief Information Officer Rick Rioboli recently told the "Technovation" podcast.
- Among the AI-based applications already in use at Comcast is a system that relies on voice recognition and chatbots to match customer calls or texts with stored data to personalize answers to questions or concerns.
- Click here for more BI Prime stories.
The people leading those efforts are increasingly the chief technology, information, and data officers, who are emerging from the shadows of the IT department and gaining new power internally as a result of the digital overhauls.
At the telecommunications giant Comcast — a company with over $94 billion in annual revenue— Chief Information Officer Rick Rioboli oversees a tech team that has gone from "order takers" to one that builds applications that are used across the organization. While he says most people link e-commerce and digital tightly together, Comcast is homing in on how to improve the customer-service function.
"There's a lot of those micro-interactions that we've now turned into digital that make the customer experience much more enjoyable than having to pick up the phone," he recently told the "Technovation" podcast.
Rioboli, for example, led the team that created the "voice-remote" feature, which functions like Apple's "Siri" and allows customers to control their TV by speaking into the remote control. And the company is continually seeking ways to improve those operations.
Ultimately, the three-part model employed by Comcast is just one system that other corporate behemoths, and smaller companies alike, can use to drive innovation.
Using innovation arms to inform the AI future
Comcast built its innovation efforts around three arms: a venture fund, a Silicon Valley-based research and development team, and an internal accelerator known as Lift Labs. Such a setup is increasingly common. Firms like Stanley Black & Decker, for example, also rely on similar teams to drive new product development.
As the head of IT, Rioboli partners with all three to, among other things, figure out how AI can be used to enhance the customer-service function. He advises Comcast Ventures, for example, on which startups or early-stage companies are worth investing in. But the benefit flows both ways. "By hearing from them what trends they see in technology, [it] really helps me understand where things are going," Rioboli said.
Comcast Labs, the R&D wing, is under the cable division. The goal is to look out as far as 10 years to figure out the most promising technology and begin to prototype it internally. That helps the IT team align its strategy to the future needs of the business.
For Lift Labs, which launched in 2017, the company partners with Techstars, a well-known startup accelerator, to find 12 early-stage firms and work with them over 13 weeks to help grow their business. At the end of the program, some startups will exit the accelerator and others will become Comcast customers. Among those in the 2019 class that are working with Comcast now is GameOn, a company that uses athletic stats and gambling odds to create prediction games for sporting events.
Through those relationships, Comcast is figuring out how best to turn the underlying AI technology into customer-facing applications.
In one instance in use, Comcast is using AI and machine learning to use voice recognition and chatbots to match customer calls or texts with stored data to personalize answers to questions or concerns, a program known as the "Xfinity System."
Regardless of the medium — whether a customer calls and talks to agent, visits a retail store, or accesses their account online — all the interactions are fed to a "common brain," according to Rioboli. It's application like this that, as technology like AI advances, will allow Comcast to get even better at predicting and solving consumer issues.


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There’s a sense of community when a group of people come together to work on one project — especially when it revolves around one small farm producing 800 pounds of garlic.
How could anyone need that much garlic? Algonquin College serves approximately 13,000 people a day, so they could probably use a clove or two.
In September and October of last year, Algonquin joined a pilot program that Mohawk College started for the purpose of increasing their sustainability and procurement of local food. General manager of Food and Conference Services, Mary Baxter, led a team to ensure word was getting out to the students about this exciting new project at Algonquin.
“One of our goals was to really keep the students involved,” Baxter said.
Baxter and her team hired two students to help with the project planning and also hired woodworking students to build a wooden cart to distribute fresh vegetables. Another student designed the local food logo they use on all of their locally sourced items. As well, you can always find students in the kitchen with executive chef Russell Weir.
“The more stuff we buy locally and produce ourself, the healthier it’s going to be,” chef Weir said. It’s going to be organic, it’s going to be pesticide, hormone and antibiotic free.”
It was a lot of work for chef Weir to meet with Algonquin’s 18 partners in this food procurement project. He visited all 18 farms to make sure the suppliers passed Algonquin’s comprehensive checklist, including food safety standards.
“We had to determine basically did they fit our definition of local, what products do they have, how can we use those products, do they deliver…do they practice safe food handling procedures and finally do they have competitive pricing, so that we can maintain affordable product for our students,” chef Weir said.
Algonquin’s definition of local is anything within a 200 km radius around campus, which includes eastern Ontario and western Quebec.
Some of the farmers had trouble producing any crops at all last year because of all the rain. Chef Weir had to constantly change the menu based on what produce he could get his hands on. With the weather affecting what crops are growing, they always need to think of new menu ideas which include substituting ingredients they wouldn’t normally use.
However, when it comes to garlic Algonquin certainly has enough. Silver Spring Farms, which is located in the west end of Ottawa, employs people from the Ottawa-Carleton Association for Persons with Developmental Disabilities to plant and harvest garlic. Chef Weir wanted to be in business with them for their quality garlic and for their initiative. Students from Algonquin went out to the farm to help them plant the garlic in the summer and returned in the fall to help maintain the growing fields.
“That was like a win, win, win. The students got a chance to do some on-site work, the farm benefitted from us buying it and we benefitted from it because it was an excellent product to start with and then we didn’t have to worry about buying commercial garlic all-year long,” chef Weir said.
It took a lot of work to peel, cut, purée, freeze and bag all of that garlic but chef Weir uses it daily in homemade soups, pastas, salads and pizza. Algonquin also has a trained butcher on-site to make sure they treat the raw product respectfully and utilize every part of it.
In October of last year, they held a harvest lunch for the farmers and students to have a taste of the new products. Students were able to have one-on-one conversations with the farmers and ask any questions about their lives as farmers.
“The suppliers really enjoyed it as well as the students in making that connection to the names that they see throughout Ottawa, not just on our campus,” Baxter said.
You can see the local food logo all around campus at many of the Food Services locations. Chef Weir continues to create new dishes with students every week to showcase the freshest ingredients possible.
For years to come, Algonquin hopes to continue its relationships with its suppliers and increase its sustainability. It’s not necessarily about increasing the list of suppliers they have but ensuring they get the best ingredients from as close as possible.
“The more sustainable part of that is to have one supplier that can supply multiple products for us versus having five suppliers offer multiple products. The goal is not necessarily to make the list longer of the suppliers but to make the list longer of the items that we can bring onto campus,” Baxter said.


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Huawei HMS wants to push personalized ads overseas to combat Google GMS ecology
Huawei recently updated its overseas HMS Mobile Services system, adding the latest version of Huawei's HMS Core and mentioning that it will try to push personalized ads to users, foreign media MySmartPrice reported.
According to Huawei, users' personalized data will be stored for one year and storage servers will be stored in Hong Kong and Singapore, China.Huawei's advertising platform also pushes ads based on geographic information if authorized by the user.
On the evening of January 16, Huawei officially launched HMS Core 4.0 for the world.In the new release, Huawei proposes three goals to further empower worldwide developers to develop efficiently, grow rapidly, and succeed commercially.
HMS "Stand Up"
After last year's May 16 U.S. ban, Huawei officially released the Mate30 series on September 19th, becoming the first phone to no longer use Google's GMS service.
For overseas users who are used to their phones loading Google mailboxes, maps and browsers, it is likely to force them to give up buying Huawei phones.
On September 19th Ren Zhengfei, Huawei's founder and CEO, was ingesting an exclusive interview with Fortune magazine.Speaking of which, Mr Ren said the inability to use Google products would reduce terminal sales by more than $10bn in Europe at best.
But it is clear that Huawei is unlikely to give up on overseas markets.At last August's Huawei Developers Conference, Huawei spoke for the first time about HMS services and announced its opening, calling on worldwide developers to access HMS Ecology.
At that time, Huawei opened HMS Core 14 capabilities, 51 services and 885 APIs worldwide to build a new ecosystem of scene intelligence with developers.
HMS brings together Huawei's core-end-cloud capabilities, including a full suite of open HMS Apps and HMS Core, HMS Capabilities, HMS Connect, and corresponding development and testing IDE tools.
HMS Apps includes core applications such as Huawei CloudSpace, Huawei Smart Assistant, Huawei App Market, Huawei Wallet, Huawei Skyline, Huawei Video, Huawei Music, Huawei Reading, Huawei Theme and Life Services.
HMS Core offers cloud-side core services such as account numbers, payments, Push, maps, and more.
Create an ecology
Technology has never been a problem, it is difficult to build ecology.At the Mate30 series launch on September 19 last year, Yu Chengdong, CEO of Huawei's consumer business, spoke about Huawei's HMS eco-construction plan.To promote ecological development, Huawei has launched a $1 billion HMS Eco relay program to attract developers, marketing and user growth, he said.
Yu Chengdong made an affectionate appeal:"You can't use GMS, you can use Huawei's HMS core... Global developers, adopt HMS, adopt Huawei Mobile Services Core, to develop your business.”
To date, Huawei HMS covers more than 170 countries and regions around the world, with 400 million monthly users, more than 1.3 million registered developers worldwide, and more than 55,000 applications connected to HMS Core worldwide.
In his New Year's message, Yu Chengdong highlighted that 2020 will be Huawei's year of survival, with one of the key points being to firmly build HMS and Hongmun ecology, rebuild the track and restart the Long March:With survival as the bottom line, priority should be given to solving overseas ecological problems.
For overseas cloud services, Huawei's goal is to take ecology and experience as the core, not to pursue short-term commercial interests, with a few years to gradually restore the total amount of overseas business, while accelerating the construction of HMS Core capacity, to lay a solid ecological foundation, "terminal as the core forging platform capabilities, through intelligent hardware and developers ecological innovation win-win situation, the formation of a 'self-research chip and Hongmon OS' new system," Yu Chengdong said.
Go to "Discovery" - "Take a look" browse "Friends are watching"
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Trailer for “Super Mario Odyssey” For Nintendo Switch Released!
Mario is back in a brand new game! Nintendo announced the release date and a few games for the new Nintendo Switch, with one new game being Super Mario Odyssey – set to be released during the 2017 holiday season.
Nintendo released a trailer for the game, where Mario leaves the Mushroom Kingdom. Watch it below!


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The ongoing vendetta between the scourge of Enron, Jim Chanos, and Elon Musk escalated when the Kynikos Associates founder said he has been adding to his Tesla short position throughout the year even as the company’s shares soared to record highs. Speaking at the Reuters Global Investment 2018 Outlook Summit, Chanos - who first disclosed his TSLA short last May - said that he expected Elon Musk to step down from his position by 2020 to focus on his private rocketship company SpaceX as competitors such as BMW and Porsche expand their lines of luxury electric vehicles.
“Obviously this is not being valued as a car company, it’s being valued on Musk ... he’s the reason people own the stock,” Chanos said.
“Put it this way. If you wouldn’t be short a multi-billion-dollar loss-making enterprise in a cyclical business, with a leveraged balance sheet, questionable accounting, every executive leaving, run by a CEO with a questionable relationship with the truth, what would you be short? It sort of ticks all the boxes.”
He said the company is burning more than $1 billion in cash each quarter and will have a harder time tapping the capital markets if and when Musk leaves
Still, while Chanos may have had a large enough balance sheet to avoid a short squeeze, others have been less fortunate, and as a result Tesla shares are up 44% for the year to date, briefly rising above General Motors in market cap, as countless shorts have been margined out despite Tesla's chronic - and often shocking - cash burn, and despite increasingly louder concerns that Tesla will be unable to deliver on its aggressive Model 3 timetable. Just last week, Tesla reported its largest-ever quarterly loss, unveiled it had burned a record $16 million per day...
... and pushed back its target of volume production of its new Model 3 sedan by three months. The company said it now expects to build 5,000 Model 3s per week by late in the first quarter of 2018 from its original target date of December. And yet, despite the production delays or perhaps due to them, the company has been a veritable widowmaker for shorts, with losses among funds that bet on its decline totaling more than $4 billion this year, according to S3 Partners and Reuters.
To be sure, Chanos is not alone in shorting TSLA, and some other notable skeptics who have likewise bet on Tesla's demise include:
- Mark Yusko, founder and CIO at Morgan Creek Capital Management.
- Mark Spiegel of Stanphyl Capital Management.
- David Rocker, formerly of Rocker Partners.
- Anton Wahlman, former stock analyst who now writes about the auto industry (he said he currently holds no position on Tesla)
Their short thesis is roughly captured by the following 7 points:
1. Negative Cash Flows
“If you can’t make money selling a $100,000 car to rich people, how are you going to make money selling a $45,000 car to normal people?” Rocker told The Times. He was referring to the upcoming mass-market Model 3. “I’m saying they’re going to lose money on every Model 3 they build and sell,” Spiegel said. Based on Tesla’s Q4 2016 earnings report, he figured the combined average selling price for non-leased Model S and X is about $104,000 and the combined average cost of building them about $82,000.
2. Competition from the Big Guys
Electric vehicles are still only a tiny fraction of total new vehicle sales in the US. Tesla sold about half of them. In March, according to Autodata, Tesla sold 4,050 vehicles in the US, similar to Porsche. All automakers combined sold 1.56 million new vehicles. This gave Tesla a market share of 0.26%. "Tesla faces a formidable set of competitors, and they’re coming in with guns blazing,” Wahlman told The Times. “Once the market is flooded with electric vehicles from manufacturers who can cross-subsidize them with profits from their conventional cars, somewhere around 2020 or 2021, Tesla will be driven into bankruptcy,” Spiegel said.
3. Tesla’s vanishing tax credits
The federal tax credit of $7,500 that EV buyers currently get is limited to 200,000 vehicles for each automaker. Once that automaker hits that point, tax credits are reduced and then phased out. Of all automakers, Tesla is closest to the 200,000 mark. Under its current production goals, the tax credits for its cars could start declining in 2018. This would give competitors, whose customers still get the full tax credit, a major advantage. About 370,000 folks put down a refundable $1,000 deposit on Tesla’s Model 3, perhaps figuring they’d get the $7,500 tax credit. But as it stands, many won’t. Rocker thinks that this is going to be an issue. The refundable deposit “commits them to nothing,” he said. Those that don’t get the tax credit may just ask for their money back and buy an EV that is still eligible for the credit.
4. The Question of patent protection
Tesla has made its patents available to all comers, thus lowering its patent protections against competitors. Also, the key part of an EV, the battery, is produced by suppliers; they, and not Tesla, own the intellectual property. This is true for all automakers. But Tesla might still be closely guarding crucial trade secrets that are not patented.
5. Musk’s distractions from his day job
Musk has a lot of irons in the fire: Tesla, SpaceX (with which he wants to build a colony on Mars or something), solar-panel installer SolarCity which Tesla bailed out last year; projects ranging from artificial intelligence to tunnel digging; venture capital activities…. “He’s all over the map, from tunneling to flights to Mars to solar roof tiles,” Rocker said. These announcements have the effect of boosting Tesla’s stock: “It’s ‘Let’s get the acolytes excited. Implant in the brain! Let’s buy Tesla stock!’”
6. Execution risk
“Investing is all about possibility and probability,” Yusko said. “Is it possible that Tesla will produce 500,000 cars in the next two or three years? Yes. Is it probable? No.” Tesla has missed many deadlines and goals, and quality problems cropped up in early production models. As Tesla is trying to make the transition to a mass-market automaker, execution risk will grow since mass-market customers are less forgiving.
7. Investor fatigue
Having lost money in every one of its 10 years of existence, Tesla asks investors regularly for more money to fill the new holes. In March, it got $1.2 billion. In May last year, it got $1.5 billion. Tesla will need many more billions to scale up production and to digest the losses. Tesla has been ingenious in this department. But when will investors get tired of it? “We’re awfully close to the point where people wake up and realize these guys are seriously diluting our equity” with new stock and convertible bond issues, Yusko said. According to The Times, Yusko “is looking for the moment when the true believers begin to lose faith.”


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This is an odd argument that makes sense. Apple is helping to save the rest of the smartphone industry because iPhones are the highest priced smartphones. Ron McElfresh explains:
The entire smartphone industry– from low end no-name brands pushing sub-$100 Android-based smartphones of dubious quality, to Samsung’s latest Galaxy-whatever line– has fallen under Apple’s umbrella. As the industry leader in premium priced smartphones, Apple has given needed breathing room to Android devices to stop dropping prices and the trend is toward higher prices.
Why are higher prices good?
What the industry is experiencing now is a movement toward more expensive flagship smartphones. Samsung, Huawei, OnePlus, and others, including Google with Pixel 2, have pushed prices higher on their premium brands, and held prices steady on their mid-range brands.
Profits keep the industry’s players afloat. Apple’s prices are highest so other smartphone manufacturers have more room for profits.


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SEARS QUARTER FEELS PULL OF SLOWER APPAREL SALES
Byline: Jennifer Weitzman
NEW YORK — Sears, Roebuck & Co. reported that its fourth-quarter earnings met Wall Street’s expectations, but the nation’s second largest nonfood retailer said that softness in apparel contributed to a 37.1 percent decline in retail operating income.
Sears also warned that a slowing economy would likely result in a challenging first half.
The Hoffman Estates, Ill.-based company said the soft apparel results reflected disappointing holiday sales and an intensely promotional environment, offsetting strong performances in softline areas including footwear, cosmetics, fragrances and fine jewelry.
Total domestic retail revenues were up 2.4 percent to $9.2 billion on a 0.9 percent comparable sales gain.
Alan Lacy, chairman and chief executive, said he was “unhappy” with Sears’ retail performance overall, but was committed to improving fundamentals and considered delivering meaningful results in retail a top priority.
“From an operational point of view, we fell short of our last year’s objective,” Lacy said. “While our comparable sales on balance were good, we did not convert enough of these sales to bottom-line profit.”
Chief financial officer Jeffrey Boyer said softline inventories at end of quarter were “in good shape,” down by $59 million. More importantly, he noted the “quality is good, with a high balance of spring versus promotional goods.”
In addition to softness in retail for the fourth quarter ended Dec. 30, its credit business caused corporate profits to plummet 40.3 percent to $442 million, or $1.32 a diluted share, from $740 million, or $1.98. Those decreases offset gains from the company’s share repurchase program, lower corporate expenses and higher services’ income. Credit revenues were down 5 percent.
Excluding special charges, net income would have been $639 million, or $1.91. Wall Street was looking for $1.91 a share, down from $1.98 a year ago. Shares of Sears fell 26 cents, or .75 percent, to $34.49 on the New York Stock Exchange Thursday.
Special items include a charge $197 million, or 59 cents, for the closure of 89 underperforming stores, the elimination of 2,400 jobs and an impairment charge related to Sears Termite and Pest Control.
Revenues for the fourth quarter improved 2.4 percent to $12.4 billion compared with $12.1 billion. Merchandise and service revenues rose 3.1 percent to $11.3 billion, from $11 billion.
Lacy said sales results came from “solid growth in hardlines led by sales increases in sporting goods, appliances, electronics and lawn and garden.”
Analysts said that in light of the dismal retail environment, Sears delivered. Steven Kernkraut of Bear, Stearns, said the quarter was “really pretty good given that this has been such a problematic quarter for everyone.” He pointed to Sears’ earnings being on track and ending the season with clean inventory, unlike many of its competitors, as good signs.
For the year, Sears reported net income of $1.34 billion, or $3.88 a share, compared with $1.45 billion, or $3.81. Excluding the effect of noncomparable items, net income would have been $1.54 billion, or $4.45, compared with $1.48 billion, or $3.89. Total revenues improved 3.7 percent to $41 billion from $39.5 billion.
Looking ahead, Sears said it expects overall consolidated operating income in 2001 to go up 4 to 5 percent. Earnings per share are expected to grow 9 to 10 percent, benefiting from the company’s common stock repurchase program and more normalized expenses associated with the rollout of its Internet effort.


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11 vehicle makers exported 351,907 cars, trucks and buses in April, down 13.4
percent from a year earlier, Kyodo News reported.
The Japan Automobile Manufacturers Association said that was the fourth straight
month of year-on-year decline.
Passenger car exports fell 15.1 percent to 304,661 vehicles while truck shipments
dropped 2.4 percent to 43,467.
There was good news, though, of bus exports which jumped 26.6 percent to 3,779
To view related research reports, please follow the links


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Demand in the Dublin industrial and logistics property market moderated in the second quarter, as take-up fell from 85,481 sq m in Q1 to 60,652 sq m in Q2, according to CBRE Ireland.
A total of 146,133 sq m in industrial and logistics space was taken up by occupiers in the first half of the year, almost exactly in line with the volume taken up at this point in 2022, which ultimately proved to be the market's second-strongest year on record.
Several large-scale, global businesses made high-value, long-term commitments in Ireland during the most recent quarter, including US corrugated packaging firm WestRock, which has a market capitalisation of $7.6bn.
WestRock will vacate several older units around Dublin to consolidate its presence at a new purpose-built distribution and warehousing headquarters at Horizons Logistics Park on a 20-year lease. The 10,510 sq m facility is due for completion in 2025.
The second-largest deal of Q2 saw French electrical distributor Rexel Group agree to pre-let Unit G at Mountpark Baldonnell (9,005 sq. m), which will be its new national distribution centre in Ireland. Denmark's DSV and DFDS were also active in the market.
Rents for prime and second-hand stock in Dublin continued to climb in Q2, increasing by more than 4% for the second successive quarter to an average of €134.55 per sq m (€12.50 per sq ft).
Prime Dublin rents have risen 11% over the last 12 months, with further growth anticipated by CBRE.
“The volume of take-up in the Dublin market remains solid, despite the softer economic backdrop, while the size and value of some of the deals completing in the market remains particularly encouraging," said Colin Richardson, head of research at CBRE Ireland.
"Large, global logistics occupiers across a range of sectors agreed long-term deals for new warehousing and distribution space in Dublin in the last three months, making high-value commitments to Ireland in the process.”
Garrett McClean, head of industrial and logistics at CBRE Ireland, said occupier demand from both international retailers and third-party logistics providers seeking to expand their distribution footprint in Dublin remains strong.
Some 1.25m sq ft of new demand was recorded in Q2, and the vacancy rate is still very low at 1.4%.
McClean noted projects currently in development include Chancerygate’s Airport Trade Park on the Swords Road; Red Rock Logistics' Globe Logistics Park in Naas and Park Developments' APEX Hub in Ballymount, which is the first new logistics park to be developed inside the southern section of the M50 in over 20 years.
In its half-year report last week, Savills Ireland similarly found 1.6m sq ft (149,000 sq m) of logistics and industrial property in Dublin had been taken up in the first six months of 2023.
(Pic: Getty Images)


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Research conducted at London City Airport has revealed that passengers are increasingly using technology with increased confidence for flight check-ins.
According to the research, in June this year, 53 percent of passengers checked in online and printed their boarding pass at home or downloaded it to their mobile phone – up from 43 percent the previous year, Luchtzak Aviation said in a release online.
The research also found that only one in five travellers – or 20 percent – used a manned-check-in desk at the airport – as compared to more than one in three, or 36 percent, who sought the assurance of a staff member handling check-in last year. Also, self-service check-in kiosks are becoming more popular as usage at the airport has increased from 10 percent to 21 percent in 12 months.
According to the airport, the findings demonstrate the impact of technology on the customer experience, the increased confidence of travellers in taking control of their journey, and the need to save time.
Declan Collier, CEO of London City Airport, said: ‘These findings show that 4 out of 5 people catching a flight from London City Airport are now checking themselves in, whether online or via a self-service kiosk in the terminal.
‘What really stands out to me is the obvious confidence travellers now have. You can provide all the technology money can buy, but your customers must want to use it. Much like shoppers using self-service check-out tills, or even self-service check-in booths at hotels, technology in travel and aviation is giving people choice – choice to own your journey and the processes needed to complete it. It is clear that air passengers have found the confidence to take control of their journey, save themselves time and do it their way in this digital age – a kind of digital DIY.’
The research also found that business travellers were the most likely to check-in online. Almost two thirds (61 per cent) of business passengers at the airport printed their boarding pass at home or downloaded to their mobile, compared to less than half (45 per cent) of leisure passengers.
London City Airport has the highest proportion of business travellers of any UK airport – around 55 percent of passengers, the report noted.
As part of efforts to improve passenger experience, London City is currently investing GBP16m in redeveloping its Western Pier, which houses 70 percent of its departure gates. The new pier will be 74 percent larger, with a contemporary open-plan layout, 600 additional seats and space for new retail and food and drink outlets.


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CHINA: 7-Eleven to expand in south-west China
7-Eleven China will invest CNY100m (US$15.7m) in its Chengdu operations.
Japan-owned convenience store chain 7-Eleven is to expand in south-west China, starting in regional centres Chongqing and Chengdu.
Parent Seven & I Holdings has struck a deal with the Japanese trading company Mitsui and the Chengdu-based agribusiness firm New Hope Group, to help roll out the expansion, it said.
"We plan to set up a company in Chongqing in March, and open the first store in the city as soon as in October," said an official at 7-Eleven's Chengdu-based marketing department.
He also confirmed that 7-Eleven China will invest CNY100m (US$15.7m) in its Chengdu operations.
"The investment will be mainly used for increasing franchise stores, which are expected to account for 90% of our new stores opened this year," said the official, adding that it plans to add 50 stores in Chengdu.
China already has more than 1,800 7-Eleven stores in wealthy cities such as Beijing, Shanghai and Guangzhou.
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Vantablack is the darkest material known to humans. It’s so dark, that it absorbs 99.965% of all visible light that hits it, and removes the appearance of all texture from its surface.
Scientists say it is the closest many will get to looking into a black hole – and it’s just got a little bit closer because Lynx (what AXE is called in in the UK, Ireland, Australia and New Zealand) has applied the material to one of its aerosol deodorant cans.
The can took 400 hours over a period of four months to produce; Unilever worked with the developers of Vantablack, Surrey Nanosystems, in order to produce the finished product. That process involved some work inside an isolation chamber.
The material is comprised of carbon nanotubes that are 10,000 times thinner than a human hair, and the end product is so dark that the human eye struggles to identify any details on its surface.
Ben Jensen, Chief Technology Officer at Surrey Nanoystems, said: “This is a ground-breaking moment for Vantablack as it’s the first time we’ve created a product for consumer viewing – by coating a Lynx can with the blackest material known to man. We’re thrilled to be able to give people the chance to experience the can and its unique ‘black hole’ like qualities.”
Lynx is now giving the public the chance to experience Vantablack for themselves, with the can going on display at the Lynx Black Space on Dray Walk in Shoreditch, UK until August 2.
Lynx Marketing Manager David Titman said: “To be the world’s first consumer product wrapped in this material is really exciting. This is the most innovative project we have ever worked on – the material was an obvious fit for our new product range, Lynx Black. Understated and slick, whilst pushing the barriers of science and technology, and giving people a truly unique opportunity to view it.”


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The following video is part of our "Motley Fool Conversations" series, in which chief technology officer Jeremy Phillips and senior technology analyst Eric Bleeker discuss topics across the investing world.
Best Buy just released same-store comps that declined more than 5% year over year, and investors... cheered? That's just another sad saga in the continuing decline of this once-proud electronics retailer. Eric and Jeremy discuss why Best Buy continues to look like a turnaround with no end in sight, except eventual bankruptcy. The company's model is put under more pressure than other retailers from e-commerce sales, it has compromised its store experience trying to chase opportunities, and it has few advantages over retail stores.
It's easy to see why Best Buy wants to get into mobile; it's become the greatest technology revolution ever! There will likely be three times as many smartphones and tablets sold as PCs in 2015. Yet while Best Buy has struggled breaking into this market, there's a world of opportunity. To help investors better profit form this trend, The Motley Fool has just released a free report on mobile called "The Next Trillion-Dollar Revolution" that details a hidden component play inside mobile phones that also is a leader in the exploding Chinese market. Inside the report, we not only describe why the mobile revolution will dwarf any other technology revolution seen before it, but we also name the company at the forefront of the trend. Hundreds of thousands have requested access to previous reports, and you can access this new report today by clicking here -- it's free.
At the time thisarticle was published Eric Bleekerhas no positions in the stocks mentioned above. Jeremy Phillips has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple, Amazon.com, and Best Buy.Motley Fool newsletter services recommendAmazon.com and Apple. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


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The Federal Trade Commission (FTC) is warning the public about scammers who are pretending to be employed by the FTC to steal money.
Consumers have called the agency to report scammers who used real FTC employee names to then try to convince them to move their money to "protect it."
So far, the median losses consumers have suffered due to FTC employee impersonators has increased from $3,000 in 2019 to $7,000 in 2024, according to the agency.
The FTC will never tell consumers to move their money to another location to protect it. The agency will also never tell people to go to a Bitcoin ATM or tell them they need to buy gold bars and they absolutely do not tell people to withdraw cash to give to another person.
"It will also never contact consumers to demand money, threaten to arrest or deport them, or promise a prize. If someone claims to work for the FTC and makes any of these demands or threats, they are a scammer," the FTC said in a news release.
Scammers who impersonate government agencies and businesses have cost consumers billions in recent years, according to the FTC.
These types of scams saw an increase in reports in 2023 and to address these scams, the FTC is finalizing the Government and Business Impersonation Rule which will give the agency " stronger tools to fight scammers and return money to consumers harmed by impersonators."
For tips on how to identify a possible impersonator, check the FTC’s website.
This story was reported from Los Angeles.


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Due to the exponential increase in the number of COVID-19 cases across the world, several educational organizations were shut down. The institutes need to finish the syllabus as per the scheduled academics amid the COVID-19 pandemic. Different universities have been trying to provide online classes to the students to overcome academic loss.
In recent times, the US-based Harvard University has decided to offer 67 new online courses to interested students. All these classes are free of cost due to the ongoing coronavirus epidemic. The highly interested candidates participating in such digital classes can immediately join the courses.
It is a piece of great news for the aspirants who are willing to pursue online classes from internationally praised universities. The Ivy League Universities across the world have initiated free online education. The universities include Harvard, Princeton, Yale, Columbia, Brown, Cornell, Dartmouth and Pennsylvania. Among them, Harvard is one such global University seeking to commence online courses to the students.
As of now, Harvard University has been offering 67 online courses and the duration of these courses ranges from 1 to 12 weeks. It is based on the syllabus and the course. On the official website of Harvard University i.e., at online-learning.harvard.edu, the students can get more details. The University will take online classes on various subjects. It includes computer science, health, art and design, social sciences, business, programming, humanities and more.
Enrolling for Free Online Courses @ Harvard University
- The interested aspirants can navigate to the official website of Harvard University to apply for the free online courses.
- The contenders can choose their preferred subject, school, course duration, date of commencement and the level of difficulty.
- From the list of available programs, the students can pick one and finish the application process.
- Further, the students will get a confirmation message to the registered number and email id.
Get the latest updates about the free online courses offered by different global universities on this website.


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SOUTHPORT podcast enthusiasts are being encouraged to enter a major European contest.
Dave Thackeray, “The Podcast Guy” – who runs daily consumer technology internet radio show, Talknology – is on the look-out for passionate local people to enter podcasts (online radio broadcasts) in a major European contest.
Dave, a former Southport Visiter journalist, said: “The European Podcast Award is now a well-established gong and is well-respected having been sponsored for four years by Olympus.”
As UK Ambassador to the European Podcast Award for two years, Dave has listened to thousands of online radio shows .
He said he believes the best are produced by people simply passionate about their subject rather than by big businesses.
Dave said: "The award celebrates people with a message to share.
“There are categories for personality and non-profit as well as business and professional – so anyone has a chance to compete and hopefully to win an award.”
Listeners are encouraged to vote for their favourite show and prizes are awarded to European podcasts which are meaningful, original and popular.
Podcasting has been around for seven years and allows anyone with a microphone, computer and internet access to make radio-style programmes that can be accessed by millions of users.
Dave said that, with the widespread availability of products that allow people to listen to the Internet, web radio and podcasting have become “a fantastic outlet for every independent radio producer”.
He said: “Our judges come from every corner of the industry and winners in past years have run the gamut of styles and themes.
“2012 promises to offer a greater array of choices than ever – but you need to be quick to make sure you’ve got the best chance of winning.”
Nominees have until mid- January to get their listener communities voting for them.
All nominated podcasts can be evaluated and rated online on a “Vote and Win” page.
A jury of specialists will award the prizes for the podcasts, taking the online ratings into account.
To find out more about podcasting, visit www.thepodcastguy.com
To nominate your show or a favourite podcast for the award, go to www.european-podcast-award.eu


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Gran Turismo sales run over Forza
Despite cocky claims by Microsoft executives, the Forza Motorsport franchise remains far behind the best-selling Gran Turismo series with only a fraction of the sales that Sony's brand manages to rake in.
Gran Turismo series developer Polyphony Digital revealed lifetime sales data for every game and the numbers are astounding. In the 13 years since the first title was released on PlayStation, well over 55 million Gran Turismo games have been sold. The latest instalment, Gran Turismo for PSP has already clocked up 1.8 million copies. That's more than the original Forza Motorsport sold on Xbox.
For comparison, all three Forza Motorsport games have sold less than 10 million copies combined--not even a quarter of Sony's series. Exactly who's in the driver's seat?
- Harmonix announces A City Sleeps, their new music-driven shooter
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- SEGA unveils the new definitive Total War: Rome II – Emperor Edition
- Prison Architect alpha build 24 arrives
- Bayonetta 2 gets a final release date
- Deep Down now delayed until 2015


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New Rehoboth restaurant planned
A Sussex County chef and a Greenville restaurant owner are teaming up for a new Rehoboth Beach eatery.
Jay Caputo, who runs Espuma in Rehoboth, and BBC Tavern and Grill owner David Dietz are renovating the former Rehoboth Beach Running Co. space at 251 Rehoboth Ave. for a 60-seat restaurant, which will have additional seating for 30 outdoors. (The store has moved to the nearby The Shops at the Pearl.)
The restaurant has a parking lot for customers, a rarity in Rehoboth.
Dietz says he and Caputo also plan to operate an Italian water ice on the parking lot site and will sell made-to-order crepes topped with fresh fruit.
Caputo says he is "optimistically hoping" to open the restaurant by mid-July.
The concept will be casual, 'probably something along the lines of barbecue and crabs."
He says the date could change, depending on demolition work which has just begun. "We have to turn a shoe store into a restaurant."
No name has been chosen yet for the restaurant.
Dietz has run the BBC Tavern on Kennett Pike since September 2009. Previously, he owned the Brandywine Brewing Co., (now the site of Pizza by Elizabeths) and had been partners in the old Shaggy's on Main in Newark.
This is Dietz's first Sussex County venture, but the restaurateur says it likely will not be the last. He and Caputo "have a few irons in the fire."
Caputo says he and Dietz met through mutual friends. "It's a good mesh."
Dietz agrees. He will handle the business side of the operation, while Caputo, who has numerous James Beard semifinalist award nominations under his apron, will be in charge of the culinary end.
"Jay really is an exceptional talent. His food is beautiful and delicious," says Dietz. "It's really a good partnership."
Caputo also runs The Rose & Crown in Lewes, and Cabo Modern Mexican Tequila Bar in Rehoboth.


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Music Gear News
East West music software offer extended
The software manufacturer says that due to high demand, they want to increase the number of people who will be able to take advantage of this deal.
East West software has become a popular choice amongst some of the worlds top composers including Danny Elfman (Spiderman, Nightmare Before Christmas, Terminator 4), Thomas Newman (Revolutionary Road, WALL-E, Lemony Snicket), and James Newton Howard (The Dark Knight, King Kong, Michael Clayton).
Danny Elfman has heavily praised the Quantum Leap series, which is available within this deal.
Looking at the Quantum range of instruments, Elfman said: "Quantum Leap instruments have become an important part of my sonic template. I am really looking forward to using East West Quantum Leap Pianos and Silk in my future score and I am using Stormdrum 2 right now on Terminator 4."
Save money on music software today!
Posted on 14 Jul 2009 15:45 to category : Instruments News
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- ABOUT Tianjin
- MEDIA CENTER
- ARTS & CULTURE
Tianjin's Binhai New Area unveiled three lists of its top 100 private enterprises in 2022, in terms of sales revenue, taxation and special contributions, at a meeting on February 25.
It was the second time for Binhai New Area to release such rankings. The rankings provide important indicators and references to follow the economic development of the new area.
The threshold for the top 100 private enterprises' sales revenue in the list came in at 2.87 billion yuan ($412.6 million), up 930 million yuan from a year earlier. Their overall sales revenue grew by 61.2 percent on a yearly basis to 968.3 billion yuan in 2022.
There were 29 enterprises on the list in 2022 whose annual sales revenue surpassed 10 billion yuan, a year-on-year increase of 93.3 percent. Their total sales revenue hit 622.89 billion yuan, accounting for 64 percent of the total number of enterprises on the list.
Meanwhile, the threshold for top 100 private enterprises' taxation in 2022 was 880 million yuan , rising 69 percent year-on-year. Their total taxation registered an annual growth of 22.17 percent to 33.89 billion .
Last year, the number of enterprises with an annual taxation above 500 million yuan was 14, and they jointly contributed to 47.2 percent of the total taxation of ranking enterprises.
In addition, the list of the top 100 private enterprises with special contributions comprised of 40 companies featuring sci-tech innovation, another 40 involved in strategic emerging sectors, and 20 reputed for their integrity building.


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McDonald’s buys out Vikram Bakshi; temporarily shuts over 160 outlets3 min read . Updated: 10 May 2019, 11:33 AM IST
- Search on for new partner for north, east India biz; K Hospitality Group, private equity firm likely to be in the race
- Vikram Bakshi opened the first McDonald’s in India in the mid-90s and then expanded to over 160 restaurants
New Delhi: Ending a six-year-long dispute between McDonald’s Corp. and its estranged India partner Vikram Bakshi, the local unit of the US fast-food chain on Thursday said it has bought out Bakshi’s 50% stake in their joint venture Connaught Plaza Restaurants Ltd (CPRL).
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It’s been another busy week for executive appointments in the travel industry, particularly the cruise sector.
In agency news, this week Travel Edge hired a new executive vice president to take over leadership of the company’s $400 million leisure travel division: Michael Johnson, who will support 600 travel advisors across the U.S., Canada and Bermuda. Johnson’s hiring aligns with Travel Edge’s strategy of looking for executive hires from outside the travel industry; he has 18 years of experience in luxury retail, most recently as senior vice president, store operations for Saks Fifth Avenue, Lord & Taylor and Hudson’s Bay.
In cruise news, this week MSC Cruises announced the return of Ken Muskat to the company. Starting February 4, Muskat will take on the role of EVP chief operating officer for the U.S., where he will directly oversee all major trade- and consumer-facing functions in the market. Local management will now also be in charge of the line’s Ocean Cay MSC Marine Reserve private island project, as well as the recently announced development of a new, dedicated MSC Cruises terminal at PortMiami.
This week expedition cruise operator Hurtigruten appointed Robert Cao as its new global director of charter and incentive sales. Based in Miami, he will report to Hurtigruten Americas President William Harber. He has over 30 years of sales experience, including 20 in the cruise industry, most recently with Landry & Kling Global Cruise Events.
CLIA Europe named Michael Thamm, the group CEO of the Costa Group and Carnival Asia, as chairman of CLIA Europe this week. He succeeds David Dingle, chairman of Carnival UK, who has served as interim CLIA Europe Chairman since summer 2018. In his new role, Thamm will work with the CLIA Europe general assembly and CLIA teams across the continent to continue to promote the common interests of cruise ship operators in Europe, the organization said. This will include close liaison with key EU institutions, and a wide range of stakeholders to foster the sustainable growth of the cruise industry in the European market.
In destination news, this week Lorraine Headley-Raeburn was appointed the chairperson of the Antigua and Barbuda Tourism Authority (ABTA) Board of Directors, while Dean Fenton took on the role of U.S. director of tourism. Headley-Raeburn will also serve as a consultant to the Tourism Authority. As non-executive chairperson of the ABTA, Headley-Raeburn will be responsible for overseeing the development of policies and strategies designed to strengthen Antigua and Barbuda’s reputation as a world-class tourism and travel destination and achieve continued growth in tourism arrivals.
Finally, a number of individual properties made new leadership appointments this week:
- LUMA Hotel Times Square named Diane Elliott its director of sales.
- Perry Lane Hotel, a Luxury Collection Hotel, named Tressa Wright director of sales and marketing.
- The Mandarin Oriental Lago di Como, which is set to open this spring, appointed Samuel Porreca as its general manager.


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SINGAPORE — Low-report Southeast Asia has gathered the attention of opportunity capitalists from other elements of the globe where by deal fracases are slowing down commerce. During the first 8 a few months with this twelve months, VCs amassed $2.62 billion in obligations for any region’s unicorns together with other promising startups.
The trend is a component of the over-all offer-creating boom in the area. Southeast Asian providers bagged purchases and inked mergers and acquisitions truly worth a grand total of $15.18 billion dollars somewhere between January and July this season, DealStreetAsia information demonstrates.
The way to Be taught Venture Capital
The investment opportunities include capital infusion from the region’s privately owned corporations by exclusive fairness, venture capital and corporation players.
Singapore directed the charts, making up 30.7Per cent of complete bargain benefit during this time. Thailand arrived second at just about 25Percent on the rear of Thai loan provider Siam Commercial Bank’s $3 billion dollars sale of its daily life guarantee organization to Hong Kong’s FWD.
Study To (Do) Startup VC Like Knowledgeable
Indonesia circular over best 3 at 19.6%, made it easier for with a mania of new venture deals in the primary 7 a few months of the year.
What $325 Buys You In Startup Venture Capital
Investments in Southeast Asian startups within the initially seven months of the year got to $8.58 billion dollars. This comes even close to $9.88 billion dollars for the similar phase a year ago. For those of 2018, Southeast Asian startups elevated $14.7 billion.
With the region’s unicorns carrying on with to enhance sizeable financing rounds, the 2019 tally will likely fit survive year’s complete. Singapore-headquartered ride-hailer Grab is set to boost one other $2 billion dollars to end a $6.5 billion dollars Series H fundraising spree that began recently.
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This holiday season, the decacorn has disclosed raising in excess of $1.76 billion — $1.46 billion dollars from SoftBank Group and $300 million from expenditure manager Invesco — within the Series H spherical. It includes also lifted $200 mil separately from Thai shop Central Group.
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Anthony Tan, Grab co-creator and CEO, has also confirmed which the clients are evaluating the spinning off all its repayment and economical services arms. This might make it possible for tactical backers — Ant Financial and PayPal have previously been rumored to become fascinated — to invest in these units right.
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Grab competitor Go-Jek is raising through $3 billion included in a Series F circular, of which it is actually shown to have at this point accumulated in excess of $1.6 billion dollars. DealStreetAsia has earlier noted the fact that start up plans to hold its backing entrances opened for any in the vicinity of word and could wind up bringing up just as much as $4 billion dollars.
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SoftBank CEO and chairman Masayoshi Son has conveyed desire for topping up his group’s investment opportunities in Indonesia’s e-business unicorn Tokopedia. Travel new venture Traveloka, in the mean time, has been said to be searching for $500 mil in new funding.
So far in 2019, Southeast Asia’s new venture successes usually are not only unicorn-run.
In their H1 2019 record, business money business Cento Ventures observed that about 50% of entire tech ventures in Southeast Asia during the first 50 % of year were definitely taken into account by mega-promotions that typically entail the big unicorns, downward from 70Per cent in 2018.
The spot has its share of around-unicorns, or privately held startups with a valuation just scared with the vaunted $1 billion dollars label. This collection includes Vietnamese payments new venture VNPAY, which lately properly secured an undisclosed investment decision — DealStreetAsia has revealed a $300-thousand overall — from SoftBank and Singapore sovereign prosperity fund GIC Pte.
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The league in the in close proximity to-unicorns includes on-requirement training video internet streaming corporation iflix, that is eyeing an IPO about the Australian inventory swap at the $1 billion dollars valuation. Others knocking around the exterior doors from the region’s unicorn organization are design marketplace Zilingo, and that is valued at about $970 mil and may have captured the pretty of SoftBank’s Son, and varying martial arts training start-up ONE Championship, whose universal ambitions landed it in the U.S. this holiday season.
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You will find yet another rising set of a bit older startups that are most often attracting money in the region.
“Although nearly all budget will more than likely continue to be connected with a couple of familiar names, we monitor an increasing cohort of other delayed-step companies that happen to be elevating much larger rounds, placing them higher than the $100 million valuation,” Cento Ventures stated within the report.
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In this cohort, a bulk are headquartered in Singapore and Indonesia, and e-trade and fintech stick out as predominant designs. Other areas including welcome and enterprise software are also attracting higher investor attention.
Searching for the next unicorn along with the promise of lucrative dividends, VC agencies consistently raise larger money in this particular area of the environment.
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In the very first several months of the season, VCs with a desire for Southeast Asia amassed around $2.62 billion in investment capital commitments to very best final year’s full of $2.12 billion dollars.
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There are funds which has a finish or part focus on Southeast Asia which are out there to enhance around $3.7 billion dollars. While the majority of resources are focusing ventures in multiple marketplaces, the fundraiser spree signifies high trader assurance in Southeast Asia’s start-up ecosystem.
Southeast Asian startups in addition have lured private collateral traders, which are adapting to the fledgling ecosystem and displaying higher motivation to help make early bets. Buyout significant KKR has reinforced scaled-down assets in firms just like Philippine tech provider Voyager, Thai e-business enabler aCommerce and residence advertisements itemizing start up PropertyGuru.
These are generally beginning but for your region’s private fairness ecosystem, but chances are starting to come up.
“The deepness of cash however remains quite skinny for SEA,” reported Warburg Pincus dealing with director and Southeast Asia mind Jeffrey Perlman. “With that in mind, we are starting to see far more interesting business opportunities in the area and even more money that is definitely beginning to circulation in to the spot.”
Warburg was one of the earlier backers of Go-Jek and Trax, a Singapore-headquartered retail store solutions unicorn. In June, it declared a $4.25 billion dollars account for China and Southeast Asia. This is the first-time Southeast Asia has become a emphasis for any Warburg account.
Among Southeast Asia’s sells, Indonesia and Vietnam emerged as opportunist favorites.
“Investors will likely be more and more centered on the easiest developing markets in SEA which are usually large and have a youthful and rising middle class,” Perlman reported. “Indonesia and Vietnam undoubtedly stand out for the reason that reverence and my sensation is investment capital continue to flow disproportionately to the markets.”
As Southeast Asia’s most significant financial system along with the world’s 4th most populated region, Indonesia offers a huge area marketplace for startups to tap. High touch screen phone and internet penetration rates potentially reveal why the country’s unicorns — Go-Traveloka, Bukalapak, Tokopedia and Jek — are technological startups.
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“The opportunity is unlimited with regards to the possiblity to harvest the country’s population benefit,” reported Melissa Irene from East Ventures. She things to possibilities in areas which may have a substantial young, midsection-class shopper structure (imagine espresso chains or e-business) and people who attempt to result in an electronic improvement in typical market sectors (logistics, health care, property or home and education and learning).
Indonesia’s federal government, that has so far allow the new venture ecosystem progress on its own, is regularly attempting to encourage purchasers with additional helpful insurance policies.
How To Use Startup VC To Desire
In July, the Joko Widodo-encouraged administration rolled out corporate tax breaks to strongly encourage investment strategies and incentivize creation and researching.
Neighboring Vietnam has the best thing about producing a far more different pair of startups. Homegrown exclusive collateral agency Mekong Capital lover Chris Freund notes that this land has anything to give to shareholders of all types.
“There are actually a growing number of start-up firms for seed stage and very early point purchasers, you will find quick growing corporations for traders like Mekong Capital also there are fully developed businesses that are strong but still escalating, which are suitable for larger sized worldwide capital,” he explained.
Deal sizes are smaller in Vietnam, concedes Brian Chang, a partner at exclusive fairness strong EQT Partners, but “the marketplace is increasing so quickly.”
“A firm that could be small now most likely are not modest in two years’ time as well as we would like to be positioned then,” he stated.
The country’s trader-hospitable federal government just lately tattooed a contract with world wide and localised VC companies to spend an overall of 10 trillion dong ($425 zillion) in area startups above the subsequent three years.
In accordance with Refinitiv data, Chinese VC investments in Southeast Asian startups increased in excess of eightfold calendar year-on-12 months to $1.78 billion dollars inside the initial several several weeks of this calendar year,
. Chinese issues acquired spent a measly $208.6 mil by comparison in the exact same time recently.
Venture Capital Funding No Longer a Mystery
“We’re seeing quite a bit of new budget coming in [in Southeast Asia] — there are actually nearby VCs with accomplished effectively — and we also have new business capital, regardless of whether it’s from China and the U.S. seeking for the upcoming advancement influx,” GGV Capital managing lover Jenny Lee mentioned at a new DealStreetAsia affair.
Earlier this current year, GGV Capital started a workplace in Singapore, its initially in Southeast Asia and 5th internationally, to touch chances in the region. The business, which includes more than $6.2 billion in money within supervision spanning 13 resources, was an early opportunist in Grab.
The ongoing U.S.-China industry stress might benefit Southeast Asia as buyers try to find replacement methods to branch out threats. Some shareholders assume that Southeast Asia will be the world-wide-web beneficiary of geopolitical stress around the world.
The Meaning Of Startup Venture Capital
“The issues between China along with the U.SKorea, Japan and ., Germany with Europe, and U.K. with Brexit are not only impacting two nations around the world however are building interruptions around many fiscal spots. I do believe that Southeast Asia is a world-wide-web named beneficiary of the disruptions because of the low account and perfectly-proven supply sequence and state-of-the-art manufacturing capabilities,” stated Kyle Shaw, founder and dealing with partner at Hong Kong-established non-public home equity company ShawKwei & Partners.
Hock Meng Tay, Nguyen Thi Bich Ngoc, Ka Kay Lum and Sarah Yuniarni led to this report.
DealStreetAsia can be a monetary information site located in Singapore concentrated on corporate financial investment pastime in Southeast Asia and India. Nikkei not too long ago revealed the purchase of your vast majority stake on the firm.


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The owners of American Axle & Manufacturing Inc. built a valuable franchise through close ties to General Motors Corp.
Late Friday, the walkout at GM Flint plants rippled through Detroit-based American Axle, prompting layoffs of 1,800 and still more for this week, said Larry King, president of United Auto Workers Local 235.
The pain from the strike in Flint against General Motors Corp. is likely to be significant for the automaker's suppliers.
The rule of thumb is that the effect of a work stoppage against an automaker is comparable to the injury to suppliers in lost sales, output and wages, said David Littmann, a Detroit economist. The longer the strike, the greater the impact, and the Comerica Inc. chief economist does not foresee an early resolution.
Few suppliers have as much exposure to GM as does American Axle, which derived 96 percent of its $2.2 billion in sales last year from the giant automaker. But many are feeling the pinch.
Analyst Craig Cather said he expects shutdowns at GM plants will affect 400 suppliers. ``It's fairly wide ranging, involving virtually any company supplying parts for GM,'' he said.
Plymouth-based Freudenberg-NOK last week put two plants on a four-day work footing. Sallianne Williams, vice president for global customer support, said overall production is down 10 percent, but the engine-components company is continuing to build inventory parts for GM's recently launched GMT-800 light truck line.
Intermet Corp. was looking for a 50 percent gain on its GM sales this year because of increased content on the automaker's new truck line. Now the Troy-based cast-metal components company is taking a wait-and-see approach, said John Doddridge, chairman and CEO.
LucasVarity Inc. expects to cut back production of antilock brakes in Fowlerville. GM is a major customer for the company's antilock brakes for trucks.
Troy-based New Venture Gear Inc., a major supplier to GM, might keep production lines open for a while to build up inventory. But that won't last long, said company spokeswoman Myra Moreland. ``At the moment, there are no layoffs. But it can't go on forever,'' she said.
Less visible is the impact on the many smaller GM suppliers. Auburn Hills-based Flexible Products Co., which posted sales last year of $45 million, was expected Monday to lay off 24 employees, or 15 percent of its work force.
Glenn Reid, the company owner and president, said Flexible Products will continue producing parts for GM but will hold them for inventory. Reid is a just-in-time supplier, which means his inventory is lean; if the strike continues, more layoffs may follow, he said.
With workers walking out Thursday at a second Flint plant, the strike appeared to be shaping up as GM's costliest since a 17-day shutdown at two Ohio GM brake plants in 1996. That cost the company an estimated $900 million.
The financial impact of the GM strike is tough to gauge. So far, the giant Southfield-based Lear Corp. (NYSE: LEA), which does 27 percent of its business with GM, has closed three of its automotive interiors plants. Lear's rivals are less exposed but also could be affected.
Johnson Controls Inc. (NYSE: JCI) last week idled plants in Indiana and New Jersey but kept employees in training programs, said Jeff Steiner, director of marketing communications. JCI obtained 11 percent of its revenue from the giant automaker last year, according to the company's 10-K report.
As the UAW strike against Flint GM plants reaches into its second week, GM is facing the shutdown of all its North American assembly operations, which include 32 plants. The walkout was sparked by a strike against GM's Metal Fabrication plant in Flint. Late last week, GM's Delphi East plant in Flint was struck. About 9,200 of the 33,000 GM workers in Flint are now on strike.
The GM-UAW dispute involves a supposedly unfulfilled agreement about additional production and investment at the Flint Metal Fabrication plant. The plant produces fenders, hoods and other metal components for many of GM's cars and trucks, said Cather, president of CSM Corp. of Lansing, an automotive market intelligence and forecasting company.
Many large suppliers report minimal impact so far. BorgWarner Automotive (NYSE: BWA) of Chicago, a major supplier of components for transmissions, is continuing to supply GM plants. But if the strike continues this week, ``we will feel some impact,'' said Mary Brevard, director of investor relations and communications.
One company that could be affected greatly is Peregrine Inc., said CSM analyst Cather. Formed in 1996 from four spun-off GM plants, the Southfield-based company remains heavily dependent on the automaker.
The company was sold earlier this year to a turnaround specialist, but that has not prevented GM from moving work to competitors, Cather said. Peregrine CEO Jim Bonsall declined to discuss the issue.
Companies with significant exposure to GM as a percentage of their overall revenue include Hayes Lemmerz International Inc. (NYSE: HAZ) of Romulus, and LucasVarity, which operates a Livonia automotive braking group, said Eric Goldstein, an industry analyst with Bear, Stearns & Co. Inc.
``Every day it goes, it has an impact, but it's minor so far,'' said Dennis Richardville, a Hayes Lemmerz spokesman who put the company's sales to GM at about 20 percent. The Romulus manufacturer of brakes and wheels employs 3,600 in North America.
Despite its heavy dependence on GM, American Axle may have benefited from an earlier decision by the automaker to move critical dies temporarily from the Flint metal-stamping plant to one of its Ohio plants, he said.
That allowed GM to continue producing the new line of GMT-800 light trucks launched last week, trucks supplied with American Axle drivetrain components. American Axle has invested millions of dollars as a key GM supplier.
Still, the strike may come at an awkward time for American Axle, which late last month filed its S-1 registration with the U.S. Securities and Exchange Commission. The company hopes to raise $115 million this summer from the sale of common shares. Steven Hoffman, the company director of corporate affairs, declined to comment.
Analysts expect the strike against GM will hurt supplier earnings-per-share estimates. ``Clearly, the safe bet here is that estimates will need to come down for most suppliers,'' said Bear, Stearns' Goldstein.
Despite the challenge GM suppliers face, fundamentals for North American-based automotive parts suppliers are quite positive, he said.
In the past, a UAW walkout would hurt the stock price of a company with big exposure to GM. But they typically enjoyed a bounce back as investors saw earnings shortfalls as having little long-term impact. Now, some analyst see strikes at GM, which has sustained 16 walkouts since 1996, as more of a regular, almost predictable event because of the UAW's history with the automaker.
``From our view,'' Goldstein said, ``any further weakness in the supplier group due to the current labor unrest should be viewed as a great buying opportunity by investors.''
Reporter David Sedgwick of Crain's sister publication Automotive News contributed to this story.


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Innovative Labs has developed a photo catalytic oxidation (PCO) air purification system to address the concerns of formaldehyde, ozone and volatile organic compound (VOC) pollution. According to the company, the Center for Disease Control and Prevention (CDC) conducted tests of the Sonoma air purifier against 13 other air purification units and excelled, yielding a high single-pass conversion of formaldehyde and other VOCs without emitting ozone. The system works by continuously drawing air into the air purifier, where a strong ultraviolet (UV) light activates a long-lasting titanium dioxide photo catalytic reactor core, breaking down and destroying airborne biological contaminants, odors, pollutants and dangerous VOCs. The result is pure air free from formaldehyde, bacteria and viruses.
Solving the Volatile Organic Compound Conundrum
Innovative Labs has developed a photo catalytic oxidation air purification system to address the concerns of formaldehyde, ozone and volatile organic compound pollution.
Nov 15th, 2012


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Nevada’s Cannabis Compliance Board is issuing stricter policies for cannabis companies that have past due taxes or licensing renewals, according to The Nevada Independent.
Roughly 560 of Nevada’s more than 700 cannabis licensees were due for license renewal by June 30, the news outlet reported, but 11 licensees with 22 total licenses did not submit renewal paperwork until July.
At an Aug. 25 board meeting, Executive Director Tyley Klimas said that the Cannabis Compliance Board did not renew the expired licenses, but instead sent correspondence indicating that the licensees METRC access would be discontinued, according to The Nevada Independent. While one licensee then surrendered its cannabis distribution license, the others paid their license renewal fees.
Klimas also indicated at the meeting that 18 cannabis licensees with 48 total licenses had past due tax debts ranging from $500 to $4 million that dated back to March 2019, the news outlet reported. The board contacted the companies and indicated that it would be severing their METRC access, as well, and all 18 licensees have since paid their taxes or are in the process or establishing payment plans with the Nevada Department of Taxation, according to The Nevada Independent.
Moving forward, the Cannabis Compliance Board plans to notify businesses immediately if they miss a deadline and will terminate METRC access until taxes and fees are paid, the news outlet reported.


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As Apple enthusiasts eagerly anticipate the release of the iPhone 14 Pro Max, the question on everyone’s mind is: are you ready for it?
First, let’s take a look at what we can expect from the upcoming device. Rumors suggest that the iPhone 14 Pro Max will feature a larger and more durable ceramic shield front cover, a faster A16 chip, and an improved camera system with enhanced zoom capabilities. Additionally, the new phone is rumored to have a higher refresh rate display, allowing for smoother scrolling and improved visuals.
But with all these new features, is it worth the upgrade? For individuals who heavily rely on their phone for work or productivity, the improved performance of the A16 chip and enhanced camera system may be a game-changer. Meanwhile, the larger ceramic shield front cover can provide added protection against accidental drops and scratches.
However, for those who primarily use their phone for basic tasks such as texting, calls, and browsing social media, the iPhone 14 Pro Max may not be entirely necessary. While the improved features are certainly desirable, they may not justify the high price tag that comes with a new phone release.
It’s also important to consider the environmental impact of constantly upgrading to the latest technology. While Apple has made efforts to become more environmentally sustainable, the production and disposal of electronic devices still have a significant impact on the planet. For those who value sustainability, it may be worth considering holding onto their current phone for longer than usual.
In summary, the decision to upgrade to the iPhone 14 Pro Max ultimately comes down to personal preference and usage habits. While the new features and improvements are exciting, it’s important to weigh the cost and environmental impact before making the decision to purchase a new device.


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SEOUL, April 3 (Yonhap) -- The Asian Development Bank (ADB) on Friday slashed its outlook for South Korea's economic growth for 2020 by 1 percentage point to 1.3 percent amid the new coronavirus pandemic.
The ADB's latest downward revision hovers far below the 2020 growth outlook suggested by the Bank of Korea, which expects Asia's No. 4 economy to expand 2.1 percent this year, with a possibility of a further cut.
The Manila-based lender had slashed South Korea's growth outlook by 0.1 percentage point in December. The ADB expects the country's economy to expand at a wider pace of 2.3 percent in 2021.
The South Korean economy grew 2 percent last year, the lowest in a decade.
"Weak global demand and COVID-19 are expected to hit growth hard this year. Consumption will weaken, and exports and private investment will fall as support is delayed, but accommodative fiscal and monetary policies should cushion some COVID-19 effects," the ADB said in its report.
South Korea plans to submit a second extra budget worth 7.1 trillion won (US$5.77 billion) to the National Assembly for approval this month as part of efforts to revitalize local spending and minimize the economic fallout from the virus outbreak.
The government said it would set aside 9.1 trillion won for a relief package for 14 million low-income households that comprise 35 million people in a country with a population of 51 million.
The parliament has already approved an 11.7 trillion-won supplementary budget plan over the coronavirus.
The COVID-19 pandemic has strained Asia's fourth-largest economy, as global trade and supply chains have been disrupted.
In March, South Korea's exports fell 0.2 percent from a year earlier in the face of the growing economic fallout from the pandemic, missing a market consensus of 1.2 percent gain.
The ADB said South Korea's exports are less likely to grow this year, citing weaker growth anticipated in major advanced economies and China, South Korea's largest trading partner.
The ADB said it expects the Chinese economy to expand 2.3 percent this year, down from the previous projection of 5.8 percent.
"Supply chain disruption from the outbreak is expected to affect private investment as well, as firms cut or delay facility upgrades," it added.
The lender estimated South Korea's inflation rate for this year will be 0.9 percent.
"Despite supply constraints imposed by COVID-19, declining fuel prices and price cutting on manufactures to stimulate demand will keep price increases to a minimum," the ADB report said.
Bumpy road lies ahead for Samsung, even after heir avoids detention
One month into eased social distancing, S. Korea wrestles with cluster infections, cases with unknown routes
Virus outbreak sheds light on overlooked side of highly touted 'fast' delivery services
Moon's post-corona presidency laden with tough tasks
S. Korea shifts toward new normal of everyday quarantine but wary of 'blind spots'


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The Desire has been one of the biggest announcements as far as upcoming Android handsets. It was almost instantly referred to as the Nexus One with Sense UI. How would HTC attract buyers to this phone when it has the same form
Google has recently acquired reMail from the AppStore and the removed it form the iPhones AppStore. Ha, take that Apple. One of the best apps for the iPhone could make its way to Android soon. Although this may end up being
This is a very interesting move by Ericsson. They just announced a partnership with Opera to bring the eStore, this is a new way to buy apps other than the traditional Android Market or that other phones AppStore. This store will
Video number two of the day from HTC official library. This video features the hot hot HTC Desire. This is essentially a Nexus One with Sense UI slapped on. This phone is rumored to be offered by multiple carriers around the
I thought the HTC Droid Eris already had this name pegged. Its seems as though HTC has other plans for it, giving it to the phone we all know as the Bravo. The HTC Desire will be the newest entry into HTC leading Android family
This phone, codenamed Halo has been announced officially at this years MWC. It will feature a 3.7 inch screen as well as a plethora of other features including the aforementioned Pico Projector.
Looks like PDAnet has some competition now. For the longest they have been the most popular way to tether your Android device without the need for root. Now enters EasyTether. This app works for MOST Android phones, but has been
HTC has added a new feature to the Sense UI home screen. It will now have multi touch support on the home screen as well. Soon you will be able to zoom in and out on the main screen by utilizing the pinch zoom feature.